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Chinese Development Bank refused to give money to Gazprom for Amur GPP - EastRussia | Far East

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Chinese Development Bank refused to give money to Gazprom on the Amur GPP

Gazprom was unable to receive money from the China Development Bank of China for the construction of a gas processing plant (GPP) in the Amur Region. Now the company is forced to attract a short-term bridge loan for two years.

Experts believe that the decision of the Chinese can be explained by the pressure of Washington and note that Gazprom could also finance this project. According to Kommersant, while the company has agreed on guarantees with the Italian Sace, German Hermes and French Coface for seven billion dollars of the necessary 14 billion dollars.

The Amur gas processing plant is needed to process gas that will be supplied by the Power of Siberia to China. The first two lines of the plant are scheduled to be commissioned in April 2021 of the year, in full by January 2025 of the year. Gazprom intends to borrow money for the GPP from 2020, a number of banks, the syndication of the loan is planned to be completed before the end of this year.

As EastRussia has learned, the government of the Amur Region knows what happened, but they cannot comment on anything, since the activities of such large and independent companies as Gazrom are its internal affairs. Regional authorities can participate in their lives only when they need help in resolving any production issues.